The founder of Skybridge Capital, Anthony Scaramucci, recently said fraud crypto exchange FTX could not be saved following its bankruptcy filing. He said that the problem is that he feels betrayed that Sam turned out to be delusional and allegedly a fraud.
FTX’s co-founder Betrayal
In an exclusive interview while attending the World Economic Forum in Davos, Switzerland, the founder said there is no way this exchange could be saved. He also mentioned that he used to consider the founder of FTX, Sam Bankman Fried, a friend who was given a seat at the table of high-profile people. However, the problem is he feels betrayed by Sam as he turns out to be a fraudster.
Scaramucci also said that whether the FTX founder ends up in jail is up to the jury and the presiding judge. FTX, at this peak, was among the largest crypto exchanges in the world, offering a solid trading platform for millions of users worldwide. However, as the crypto market suffered from a downfall and Bitcoin slid towards the week’s trade range of around 20K USD, cracks began to emerge in FTX.
Eventually, some sources revealed that the misdoings of its founder, SBF, and several accounting errors in their finances broke the camel’s back. The exchange also stopped customer withdrawals before news broke out that they filed for Chapter 11 Bankruptcy protection in the US. It was later revealed that FTX and its sister company, Alameda Research, had misappropriated customer funds.
Skybridge Capital is Patient
Skybridge Capital founder Anthony Scaramucci said fraud crypto exchange FTX could not be saved following its bankruptcy filing. He also mentioned that considering the evidence presented and claims from the restructuring offer in charge of the FTX bankruptcy proceedings, there is nothing to be done.
He divulged that his fund was also not spared by the crypto winter and the FTX contagion as market prices slumped, affecting their revenue. Their core fund, Anthony said, was down by 30 percent last year. In January 2023, after several signs of recovery, their core funds again grew to double digits. Scaramucci also confirmed that their firm is completely unleveraged and owns its inventory. When asked whether he lost funds last year, he confirmed that his BTC is intact and did not lose any monies since he is completely unleveraged.
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